The Vietnam’s policy of international economic integration has supported Vietnamese enterprises to develop activities of international investment and commercial. The following dispute arising from such activities is not preventable. The resolution of dispute by the way of arbitration is a prior option for parties of dispute due to its flexibility and quickness in nature. Received interest from a judgment or an award is core purpose of parties of dispute. Therefore, given a real question after issuance of an award of arbitration that procedure for enforcing an award of foreign arbitration in Vietnam. Procedure for enforcing an award of foreign arbitration in Vietnam will be conducted as specified in the Code of Civil Procedure 2015 (“CCP”) and other relevant documents. Accordingly, in order to know the procedure for enforcing an award of foreign arbitration in Vietnam, the requester must know the following procedures and conditions:
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Conditions of considering recognition and enforcement an award of foreign arbitration in Vietnam:
To know the procedure for enforcing an award of foreign arbitration in Vietnam, it is necessary to find out prior conditions of the court’s consideration including
- The award of foreign arbitration which is a signatory to an international treaty about recognition and enforcement of an award of foreign arbitration together with Vietnam;
The award of foreign arbitration on the basis of principle of reciprocity; and
- Being the final award of the arbitral tribunal that resolves all the contents of the dispute, finishes the arbitral procedures and is effective.
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The statute of limitations for requesting recognition and enforcement of an award of foreign arbitration is an important question in relation to procedure for enforcing an award of foreign arbitration in Vietnam
The time limit for submitting a request for recognition and enforcement is 03 years from the date of the award of foreign arbitration takes legal effect.
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Which legal procedures to be conducted are the following important content in relation to procedure for enforcing an award of foreign arbitration in Vietnam
- Submitting an application for recognition and enforcement enclosed with papers and documents specified in the international treaties to which the Socialist Republic of Vietnam is a signatory; in case where there is no international treaty or the international treaty does not provide for the case, the following papers and documents shall be enclosed with the application:
- The originals or certified true copies of the award of foreign arbitration;
- The originals or certified true copies of arbitration agreements between parties.
- The application will be processed by the competent authority.
- Participating in meetings for resolving civil matters in the presence of the executor, the executor or their legal representatives and the prosecutor of the Procuracy of the same level (either joining or not)
- Receiving the decision of recognition and enforcement or no recognition and enforcement of the award of foreign arbitration in Vietnam within 15 days from the date the Court issues the official decision.
The award of foreign arbitration will only be recognized and enforced in Vietnam if it does not fall into the cases of non-recognition as specified in Article 459 of the CPC.
- Making an appeal if needed within 15 days from the date the Court issues the decision to suspend the consideration of the application or terminate the consideration of the application or decide not to recognize the decision of the award of foreign arbitration.
- The parties enforce the award of foreign arbitration which has been recognized in Vietnam.
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Jurisdiction to request recognition and enforcement in Vietnam of award of foreign arbitration
The right to request belongs to the creditors or their legal representatives who have the right to submit an application for recognition and enforcement of award of foreign arbitration in Vietnam according to the legal procedures.
Above is an overview of the procedure for enforcing an award of foreign arbitration in Vietnam. If you have trouble with legal issues regarding of the procedure for enforcing an award of foreign arbitration in Vietnam, please contact us: Phuoc & Partners is a professional consulting firm established in Vietnam and currently has nearly 100 members working in three offices in Ho Chi Minh City, Hanoi and Danang. Phuoc & Partners is also rated as one of the leading consulting firms specializing in business law in Vietnam that has leading practice areas in the legal market such as Labour and Employment, Taxation, Merger and acquisition, Litigation. We are confident in providing customers with optimal and effective service.
